Results 8,841-8,860 of 40,550 for speaker:Joan Burton

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: Even the most pessimistic observer could not have foreseen just how calamitous a decision the 2008 bank guarantee has turned out to be. The date of 29 September 2008 is as steeped in infamy in Ireland's history as Pearl Harbour was for the generation of Americans led by President Franklin Roosevelt. I propose to outline one case. Professor Morgan Kelly was attacked with vitriol by the...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: No, they have scattered. Ministers and their acolytes have persistently peddled the myth that the Honohan report wholeheartedly endorsed the September 2008 guarantee. Deputy Lenihan and Fianna Fáil were at it before they chose to flee the House so as not to hear some of the truth. They fled. They are not here. They have left a sole Green Party Member in command.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: That document did no such thing. Yes, Professor Honohan did acknowledge that some kind of guarantee was required, as did I even before 29 September 2008. A deposit guarantee would have had unanimous support here. Two weeks beforehand, on 16 September 2008, I looked for a €75,000 guarantee for ordinary depositors. I got my answer from the Minister — a very short "No". A year earlier,...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: Today's vote is, in effect, a vote of confidence in the Government's banking strategy. That is what those opposite are seeking.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: The Minister of State's colleague was locked up with his bike in the shed and all of his phones turned off so she should not give us her view.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: We do know that an incorporeal meeting took place and that a garda knocked on the door. What happened thereafter, I do not know. Two years after the original guarantee, which we were promised would cost nothing, we are faced with enormous bills, credit is still scarce, and the cost of Government borrowing is soaring. The Labour Party has no confidence in the Government's banking strategy....

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: Two years on from the original bank guarantee, the Government has still made no progress with the introduction of a special resolution regime for the banks. Once the guarantee was granted, the introduction of such a resolution mechanism was the only realistic way in which the financial burden could be shared appropriately between taxpayers and the banks' investors. As of midnight, some...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: We have been informed that the relevant figure will not be announced until after the markets close tomorrow. At this stage, the Financial Regulator and the Government must know what is the full amount. It is simply not acceptable that the Dáil should be asked to make a decision on the guarantee while the information on Anglo Irish Bank is being withheld from Deputies.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: Is the Minister going to make a comprehensive statement tomorrow in which he will comment on Anglo Irish Bank and Irish Nationwide and will he address the funding position and situation of the two main banks, Bank of Ireland and Allied Irish Banks? I wish to close by referring to contagion and confidence. The former is something one does not want in financial markets while the latter is...

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: A total of €37 billion.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: I will give Deputy Dooley the figures.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: I was talking to one of the Minister's colleagues.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: The Minister did not seem to give him the figures.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: A direct quote.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: We said that.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: So is the Minister guaranteeing the €37 billion tomorrow?

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: No, we are talking about €36 billion according to the report of the Minster's officials.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: What about the affidavit by Mr. Casey that he voluntarily gave to the Garda?

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: I think the Minister reads The Irish Times and it was published in full in The Irish Times.

Credit Institution (Eligible Liabilities Guarantee) (Amendment) Scheme 2010: Motion (29 Sep 2010)

Joan Burton: Did anyone in the Department notice the collapse in the share price on St. Patrick's Day 2008?